Homebase rescue plan voted through by creditors

About 5 Months, 3 Weeks, 1 Day, 16 Hours, 40 Minutes ago.

Homebase creditors have voted in favour of a rescue plan that will result in 42 stores closing.
The chief executive of Homebase said the company voluntary arrangement (CVA) would help turn the business around and return it to profitability.
Some landlords had planned to vote against the CVA, complaining that it treated them unfairly.
Hilco Capital, which bought the retailer for £1 in June, plans to invest £25m to revive the DIY chain.
"We now have the platform to turn the business around and return to profitability," said Homebase chief executive Damian McGloughlin.
"We can look to the future with great confidence, and we will be working closely with our suppliers to capitalise on the opportunities we see in the home improvement market in the UK and Ireland."